Design is based on the criterion that an associative memory must be able to cope with "fading data," i.e., to form an inference from the data even as its memory of that data degrades. The resultant net shows striking biological parallels. When these principles are combined with the Freeman specification of a neural oscillator, some remarkable effects emerge. For example, the commonly-observed phenomenon of neuronal bursting appears, with gamma-range oscillation modulated by a low-frequency square-wave oscillation (the "escapement oscillation"). Bridging studies and new results of artificial and biological neural networks, the book has a strong research character. It is, on the other hand, accessible to non-specialists for its concise exposition on the basics.